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There is good news for U.S. companies operating online, which nowadays, of course, includes virtually every business. The European Commission has published its first annual report on the agreement reached last year by the Commission and the U.S. government to protect personal data transferred from the European Union (EU) to U.S. companies for commercial purposes, known as the “EU-U.S. Privacy Shield”—and the Commission has determined that the Privacy Shield is working. Specifically, the Commission concluded that the Privacy Shield is ensuring an “adequate level of protection” for personal data transferred from the EU to participating U.S. companies.